The shareholders of GlaxoSmithKline Consumer Nigeria Plc has approved the payment of a dividend of 45 kobo to shareholders, an increase of 11.11% from the dividend of 40 kobo declared in fiscal year 2020.
The statement follows impressive revenue growth of 5.42% to N22.445 billion in a very challenging operating environment from the N21.30 billion recorded in 2020.
According to the Company’s financial statements, profit after tax for the year under review increased by 5.88% to N658.81 million from N622.23 million in 2020.
Shareholders also appreciated the growth of leading research-based pharmaceutical and healthcare companies during the year under review and reaffirmed their confidence in the leadership to grow the business in the coming year.
Speaking at the AGM, Chairman of the Board of GlaxoSmithKline Consumer Nigeria, Mr. Edmund Onuzo thanked shareholders for their support throughout the year and pledged that the board and management will continue to explore opportunities for growth, profitability and sustainability of the Company.
Onuzo commended the efforts of the Nigerian government to achieve economic stability in the system and said the country will stay on the path of growth and development if the various economic reforms of the government are implemented diligently.
“It is encouraging to note that the Nigerian government is constantly adopting different mechanisms to diversify the Nigerian economy from the stubborn position that is largely dependent on oil revenues for foreign exchange.
“While we appreciate the government’s efforts, it is important to direct them to maintain a focus on improving the operating environment with more policies aimed at providing a more conducive environment for businesses to thrive,” he said. he declared.
Regarding the company’s social support activities, particularly during the Covid-19 pandemic, Onuzo said GSK’s particular goal is to improve the quality of human life by helping people to do more, to feel better and live longer.
“In 2021, through GSK’s partnership with Save the Children International (SCI) (INSPIRING project), GSK donated medical equipment, instruments and consumables worth over N100 million to 30 health facilities in Lagos and Jigawa states in Nigeria.
“Additionally, we have made a direct donation of Personal Protective Equipment (PPE) to the Nigerian Association of Resident Doctors (NARD) and the Medical Guild of Lagos to provide much needed protection to our frontline health workers. “, explained Onuzo.
In his remarks, GlaxoSmithKline Consumer Managing Director, Mr. Kunle Oyelana, said the achievement in the year under review reflects a collaborative effort by all major stakeholders in the healthcare delivery sub-sector.
According to Oyelana, GSK is committed to remaining Nigeria’s leading healthcare company, with its pharmaceuticals, vaccines and consumer healthcare products enabling Nigerians to do more, feel better and live Longer.
“We are pleased with the results for 2021, it is a testament to our dedication and partnership with stakeholders to ensure business growth and the resilient spirit of the GSK team. We will continue to evolve to ensure a sustained growth in our commercial operations around our three business areas of pharmaceuticals, vaccines and consumer healthcare,” he said.